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Earnings season continued this week as many big-name dividend payers released financial results. Also, Verizon took a $4.4 billion bid for mobile ad space.
Before Monday’s opening bell, several big-name dividend stocks released quarterly results:
On Monda,y U.S. stocks slid; the pullback occurred just one session after the Dow posted its biggest one-day gain in over three months.
The Dow slipped 0.5%, the S&P lost 0.5%, and the Nasdaq shed 0.2%.
Only one major earnings was released on Tuesday:
Also on Tuesday, all three major equity indexes closed lower on the day, following a steep selloff in European equities. The Dow shed 36.94 points, the S&P 500 slipped 0.3%, and Nasdaq closed 0.35% lower. The pullback also weighed heavily on bond markets; during trading hours, the 10-year Treasury note yield popped to a 6-month high.
On Wednesday morning there were a few notable earnings releases:
U.S. equities traded lower once again on Wednesday, dragged down by DuPont (DD ) shedding 6.8% during the session. DuPont’s drop was prompted by a shareholder re-election of all of the company’s sitting directors. The Dow ended 0.1% lower, the S&P 500 lost 0.64 point, while Nasdaq shed 0.1%. In other news, the Commerce Department reported U.S. retail sales were flat in April at $436.8 billion, versus the expected 0.2% uptick.
There were three notable earnings releases for dividend investors on Thursday:
U.S. equities staged a major turnaround on Thursday, with the S&P 500 rallying to its seventh record finish this year, beating its last all-time high reached in late April. The Dow also closed higher, rallying 1.1% during the session, while the Nasdaq popped 1.4% higher.
On Friday, there were no major earnings to report. Equity markets opened slightly higher at the bell, though trading remained subdued following Thursday’s record-breaking rally. In economic news, U.S. Industrial Production declined for the fifth consecutive month in April. The University of Michigan’s preliminary May consumer sentiment report was also reported; sentiment unexpectedly fell to 88.6 from a final April reading of 95.9.
In economic news, Building Permits will be released on Tuesday. On Wednesday, the FOMC meeting minutes will be released. Thursday will see unemployment claims and the Philly Fed Manufacturing Index released. Lastly, monthly CPI figures will be reported on Friday.
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